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4• That. rn order to protect mee fully tM tiaCUnty Of tMf metpape. tM Monpape. tOpether with and +n add+UOn to tM mpnthiv wrments u,uter the terms of t'tP
rate secured Mraby. On tM spatdrad paynNnt dale Of Nth month untJ the Bard note 4 luny wrd. will pay to tM ASSOCVtan the Io1low,np sums
lal An installment Of tM Maq and asNSSments leased a to be lev,ed against tM Wem+iss covered br fns mortgage and an msbliment of the premium
p Memrums tMl vydl baCOrM des and payable to rtrteyv tM rrtfurattCa Ort tM Mam+sN Covered Hereby against Was by f+ra, and wrndstem. as MovrdaO
• fe by paragraph 3 pratWwtp. a atxh other haaNO as may nasoMbly ba raquusd by tM Assoc,atan soil an mstaumem of the premwm font w,N
ttacome tttra and payable W ranavtr tM rttortpape rnsuranca. rf airy. Such Installments shalt rte equal, rtspett+yely to pile-twelfth il. 12th1 of file es-
trmated premWm M pramlwnf fOr itlth InWranta. ono lataf and asNSSmer+ta Mat dW less esumate0 by the Atsoc,at,onl less all rnstallmer,ts already
bard therafe. drvdad by tM number Of rttonths ulat era to elapse aw month pre to the daM when such Meir+ium or Memiums and lanes and
assessments vwN batOrtN daMrtpWnt TM Aasoaatan. while apphnnp such p>yments ro rnsurante premiums fates and assessments belors tM same
beCOttN dNirtquNtt. shah not pay rntNaft t0 file Metpage on such funds. and all loch payments maY be commingled by tM Assocralan write any
other such funds a Math Its own funds TM funds era pledged of addibetat salutary fe the sums secured by this Mortgage and sis wbea to use by
tM AffOtratan in paymMt of "late charges" and bank colk?ttron charges
Ibl Atl payments mMtiprtad n file prateWng subfattan Of CMS paragraph and all paymentf to be made under tM not! allured Hereby shall ire added
together and tM aggragaM amount tl+ereol shall be paid by tM Metpspe Bath month +n a s,ngle payment to De app+ied br the Association to the
fdbw,np gems tit tM order Nt forth. 1. Titef. afNfsrtNnts. and inwwixe Memiums 2 late Charges and bank cohecuun charges, unless w+d ,n
manner Wovdad In paragraph 4 la) 3 IntNest On tM note secured Mnby 4 AmorGtauOn of tM Mintiwl of sad opts
Any deficiency M tM amount of Guth aQVrspata monthly payrtlents snail. unless pad by tM Metgage pr+e to the due date of the nett such payment. con-
stitute an event of defauk urtdar tM mortgage. Without waiver of arty right. the Assocratan may colNSCt a late charge as Mov~ded m the Note
g Thsr d the Wtal of the payments made by tM Mortgage under lal of paragraph 4 pretedinp snau exceed the amount of payments scwauy made by the
Associstan fe taws and assessments and Inswance prettuums. as tM ties maY Oe. suchltcess shall be cradled by tM Associsuon on subsequent wyments
to be made by tM Mortgagor. I/. ltowewr, tM monthly paymerts made by tM Metpago• under lal of paragraph 4 pretedinp steno not have been wHrcient to
Day Utet Ind afiffsmentf arld msuyrtce premiums. of file Cafe may be. When tM same snail tyetome dW aril payable. then, the ASSOCrahon may. at rt5 op•
trop. immedratelyr pay such Mtes and asaeasments and irlWnnCe prem,um and tM Mortgage shah pay to ltte Assocranon arty amount necessary to make up
the dehcrency. and such payment shah De due and payable vritlrn tMrry 130) days aher the daq of msihng of notrte Dy the Assoc,anon xlnnp lath the amount
of such defrcreftCy If, at any time. tM Mortgagor shah tertdN to file Association. In accordance with the Mov+sions of the note xcured Hereby. IuN payment of
the cobra indebtsdMSS reMesanted Mreby. tM Assocutan shall. m tompuunp tM amount of such indebtedness. credit to the account of the Mortgagor any
balance remaining In the funds scctrmulated under tM prov,frons of Ia1 of paragraph 4
6 To txrmq. commll a suMar ra waste. impanment M MMrroratan of Bard property. or any part thereof. and upon the failure of the Mortgagor to keep the
bu+loings on laid property m g0od Cprtdtidn a repau and mainMMnce. tM AsfOCU00n may demand prober ma+nteninte aril the immedate repair o1 sad
bu+ldngs. a an rnc?pse m the amount of security. or the immedisM repayment of the debt heroby secured. and the failc-s of the Mortgagor to comply wrtn
card demand of tM Assouatan for • pergd of tMrty (301 days shah constuute a branch of CMS mortgage. and. at the OptrOn of the Associanon. rmmediatety
matwe tits enure amount of pnrttipal and mMrNt Mnby secwed. and tits Association rmmediatety and w,thout notice may +nsutute Moceed•ngs to leedose
CMS mortgage and apply ie tM appan[ment of a ?Keiwr. as hereinshN Movided. erW in rasa of the refusal. neglect or mabihty of the Mortgage to repair and
maintain said property. file AffOtiatiOn may. at Ks opton. make wch repairs a cause tM same to be made. and advents moneys in that behalf
7 Td perfem. COmply with and able by eatA and awry the sbpulationf. agrNmentf. COndtiOnf and covenants in SaW prom,afpry rate and tMS mortgage xi
lath
8 To comply with IM subdmswn rgtrittlOns and the municipal ><ttnrrlg ednances appiruble to the mortgaged Moperty. not to erect o. permit to be erected any
new bu,tdings on the Memisef harem mortg a to add to or pNmrt to be added to. make or perm,t to be made. any structural .lteratrons to any of tfte ea-
isnng imMpvementf tMreon vyithout tM wort COnxnt Of tM AasoaatrOn. and rn the Brent of airy vWlatron or attempt to violate thex sapuiatans. or any of
them. this mortgage and aN sums soured hereby shalt immediately become des and wyable at ttie option of the Assoc,atan
9 That m csss of s default m ainr tN tM Mans M tMe metgage and tM hhng of a bill to foreclose tMS a any other mortgage encumbering the w,thin deSCrrbed
property, the ASfOCNtion (hall Oe anbtNd t0 apply. at arty Ome witltdut notice pertdrrtg such Ieeclosure sort. to file cOUrt hawnp lur,tdrttion thereof for rite sD~
pantmenf of a rer:erver 01 all and erttgular tM metpaged property. and Of W the rants. rntorrys. Motets. •swes and revenues thereof Iron whatsoever source
derived and. tftereupon. rt n Mnby etpessly townanted and agreed that the court shall }etnw,th appO,nt a rece,ver of sa,d mortgaged property alt and
6ingular. and of such rents. incomes. profits. news and revenues thereof, from whatsWVa source derived w+th the oven: powers and dunes of •ece,vers ,n like
cases and such appantment shah lye msdt by such court as a matte of stmt right to the Assec+anori. and w+inO,it reference to the adequacy or inadequacy of
the value of file Moperty Mreby mwtpaped. a to tM soiventy a msWwncy of the Mortgagor. and that such re:as profits incomes. stoat and revenues shah
be applied by such receivN to the paymMt of file mortgage indebtedness. COSM'arid charges. aeeordeig to the order of wch court
10 That m the event ttie Memrxe hereby mongeped. a any part tMraof. shat) be Condemned aril taken under the power of eminent doma,n the ASSOCianOn Snarl
have ttie right to demand that all damages awarded for the taking of a injury to said prernixs shah be pa•d to !ne 4ssociauun .ts successors o• ess+gns. up !o
the amount then uraad on trot mortgage. and roar be applied !O any sums last payable nereundr
i t 7nat tirrle is of the esxrtce of thtf Contract and that n0 waver of arty Obhgauon hereunder or o} the ob gat-on secured Hereby snau at any t•rne tnP~eahs•+ lx
heM to be a waver of the terms hereof a of the promissory note secured hereby
12 In the event of any default m any of the Mrmf of this metpape. e m tfle note secured hereby. aril acceterauon by the ~oldl+ or any other s:tuanon roar would
caux the interest yard w OaWWe urtdN this oblrpatan to exceed the gtterest rate suthOnted (ry law. then m such event a!. excess interest tnererofore paid shall
be credited to principal and at' sCaued and unpaid attest interest steno abate and steno not be an ob~:gangn of the maker or of any o:ne+ person
13 That to the ettent of the indebtedness of the Metgspe to the Astlocui on described herein or secured hereby. the Association rs hereby subrogated to [rte i•en
e hens and to the rphts of the owner and holder tMreof of each and awry mortpsgs. I+en or other encumbrance et file land described herein wh,ch is veld and
satisfied in whole a in part. out of the proceeds of the loan descnbsd harem or secured nereby_. artd the respect+ve wens of said mortgages bens or ocher en
r:umbrantes shat) be. and tM same and oath of them hereby is Mexrved and shalt vets to and tx nerd by the Assoc!ation herein as secur,ty le the .n-
debtedness t0 ttte Assoaatan herein described a hereby secured, tO the same ettent that rt would have been p•exrved and would have keen passed to and
been nerd by the Assocratlon had it been doh and regularly assigned. transferred. xt over. and delivered unto the Assoc+at+on by xparate deed of assignment
notwithStarding file fact that ttte same may be fatiffred arw cancelled Of retOrd. it being th! +ntent+on or the part+es he!eto that the same w+V: t,e satisfied and
cancelled of record by the holde•s thereof at or about the time of the recordirtp of th,s mortgage
~j 14 Thai d any Of tfie Sums Ol money Mrem referred LO be not MOttatly and fully paid witMn ihnty 1301 days neat after the Same severally become due and DayaOle
e if each and every the stiputatans. agreements. CprlditrOns and covenants of card promswry note and CMS mortgage or ertner are not duly performed. com-
j plied with and abided by. tfie aggragaM sum unpaid under said Mom,ssory note and tMS mortgage Sha+l become tlue ar+d-paydb:e }Qrthwith pr thereafter. at the
~ opuon.of file AstWUatron, as fully and complettly es d sail appregate win of money wale ong:nalW stipulated to tre paid on such derv. anyth.ng in sa+d
promissory note or herein to the contrary notwithstsndinp
~ 15 That m order to accelerate the matunry of the indebtedness hereby secured becaux of the faJure of the Mortgagor to pay env tea assessment ,~~ab•+rty Ob~ga
non or encumbrance upon sad property ss harem prov,ded. rt shalt not be necessary nor regws+te that the Associat,en snail f,rst [~av the same
~ 16 • That the abstract or abstracts of title covenrlp the mortgaged property shall at all times during the life of tns mortgage remain +n the Dossess+on of the
+ AssOaation and m event of the foreclosure of tMs moats or otM!r transfer o} title t0 the mint a
f p per g gad Mcpe!ty. +n e¦nngu~snmem of the ,ndebtedness secured
Hereby an ngnt. ntk and interest Of tfte Mortgage m and t0 any such abstractt of Utle shall pass !o the purchase! or grantee
E 17 Should the vatdiir a ben of tMt mortgage. a the note secwed thereby. be contested by '.ugat•on o+ otherwise the Mo•;gago+ agrees to pay to the Assoctancn
I the cost of defending ih! same ,ncllyding a reasonable attorney's fee
18 To Day all and singular the costs. charges and expenses. rnCiud:ng sttorrey's Ceps reasonaWv incurred m pa,d at any time by the Assaaatron because of the
~ fd,lure of the Mortgagor t0 perfem. compy with and able by each and Peery The St+Du1aU0^s ayrremPnts U)^d:Dons and rrirenani5 of cd,d prnmi55ay note
and tM5 mortgage. a C,tlser, and !very wch (except for the payment O} the moo+hly +nsta'lrrrent a5 regwrpd by the Prom.S:-o!Y Notes sra!~ bear :ntp+est from
date at the rate O[ a+ghteen pea cent t 18%) pe• annum until fully paid
t9 The ASSOC+anpn shad have the right at any time and frpm time to time and W~1hOU! nonce t0 n! COrisenT O[ any Pe:SOn fO ia) le~ease any pprbOn o[ ibe prem,Ser.
~ from the hen of tole mortgage. tb) release any person liable for payment of any indebtedness secured Hereby iu e¦terid the !•me of paymem or a!tr the terms
of payment of au a am Dart of the indebtedness. without aftetting or rNeasing the persona! uaD:!'ty of env person ~'ab~e !other loan env De+so^ roleased pur
want hereto! for the payment of any sum a interest xcured hereby and w,thout +n any wise a'ter,ny va•y'ng O• G'mmsr~~'g the tomes efiecrs or ~•en o[ fns
mortgage on ail the MemiSlS opt Spec+fiCilly pleased from ttte hen Of rtes mortgage by ihp ASSOi~anOn
20 Any agreement !wreahlr made by Metgage and ASSOtiaUOn purSUant to tM5 mortgage Sha'f t•P sJpP+ro• !o the rghts of the Holder o' any •nter:emny hen or
1 e^cumbrance .
21 !,[von rertuest of Mortgagor the AssoCrabon may. at its sore opt,on. t•om time to nine before lute cavii,ent of a'i :rdeb!edness secured hereby make further ad
yentas to Mortgagor. prov,ded however that Ne total pr+rx+pal secured noreby and rema'n.ng un[.a:d +nr:!urnng env cuCn advances she'! r,o! at any t,me ea
teed the wig,nat prinupal sum secured hereby Mortgagor shat) pay alt won /urther advances wrth'nt?res and Y•e same shay !>o seu,!ed tierebY AG provisions
Of Th4 mortgage Shari apply tO loch further advance a5 Wtil a5 [O al! othC indebtedness secured re+ebv 'y n; n.ng ne!o,n cp'+ta're.^. hOwpv e+ Sna+'` h-m! the
amount secured by th.s ^tOrtgage if suM amount rs ,ncreaxd by advances made Oy the Assoc•at•On. as r•a•e,n e'sew!,e•e p•...,ded for to p•otect me security i
6 22 In rho Prent the Motgage herein a any wbseguent Mortgages Or any person nr COr[~U.dDUn ties!. nu any n!r•vN Va h.IKrx•ce• ~!o- h,l•! arCU^,nPr IhP p. o[,erty
_ ttpreen mC!tUagGd by an +nsttumenr commority referred to and krawn as a wrap around mnrtgr.yo rth..,,! !,•S! ntir.a~.•~nq Th•' w•.t'r•~ ~ UncvnT Or 1'ro AS~OC!d
flora then at the oonon Of the Association the Obagat'On secures: try rh•c AlrvtgagP ar•,-.° n,r-.e^.fic~, •,..r.v~n ,ar.a nav.:r•!e
23 To [vgvide the Asstxrannn with Flood insurance Coverage d the rea, property ,S now nr he•pafie• %!rtP•mu•r~:i r•' rK..,vr••:•~ , sr..,.i: • . ~-..1 rg,q•d area ac anew..
on Fteort Hatarrf BarrrJary Map'Flood Insorar•ce Rate MaD as pub:+sfwd by rho Fedora' ~nsu!an+.r• •.•.rar:nom
24 At the request Of the Morgagot. the Associat+on agrees to wave the Movsions of paragraph 4 rela!ive !o tie ueaDO^ o' a ra:aro insurance account MoridM
tww!ver !hat the Assoc+atipn retains the right. at ,ts Option. ton-meters such Movisrons o[ sa•d DB'agraFh A aS an obiQarcr, nr tro Mortgagor n9•ei,nder upon y
the haPDen'n9 of env of Ms fdtowing 1
A Failure to make any payment rsqu,rad under the refine of the rate nn or before t'+• due date tnereo!
B Failure to comply w,th the infureriCe prOrifrOns of paragraph 3. a of any of the other terms and co^d'DOns or trns +-o~ tyage or Wore o! wtr the .Hsu+a^CP
i regwremenis comainad m tM OeClatatiOn of Condomirnum and rented docume^.ts shOU+d !nP mortgaged D+oDerty De :om^,rtted to condor•:nrur^
` rlpvebpment
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